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Budget is the projected financial estimate in a given year, whilst expenditures are the actual expenses incured in carrying out the budget.
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∙ 10y ago
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∙ 9y agovariance
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What is difference between the terms budget and estimate?
Budget is a formal and approve document. It has two parts: How much funds are required and how these would be met. It is the same as cash inflow and outflow. Estimates reflect only expenditure side and it could be an informal way. Supposing a dam is to constructed. First will come the estimate say $5 billions. Even if this figure is accepted as realistic, the question would arise where from the money would come. On identifying the genuine sources, a budget would be prepared and approved. In short, while both show future costs, estimate point out towards expenditure while the budget would also give details on financial plan or how that expenditure would be met.
Distinguish between deficit budget and surplus budget?
The main difference between the fiscal and budget deficit is of time period in consideration.Fiscal Deficit is the Govt. Deficit (Government Expenditures - Government Earnings (excluding borrowings)) for a fiscal year let say 2008-09 while...Budget Deficit is the Govt. Deficit in fiscal year 2008-09 (i.e. fiscal deficit for year 2008-09) plus the past Debt over the Government (i.e. the net sum of all past Fiscal deficit/surplus before fiscal year 2008-09).
What are the objective and control of capital expenditure in business organisation?
The control of capital expenditure in a business organization is organizational control. This is often implemented through a budget program.
When the government expenditure is more than it's revenue than the national budget is said to have a?
deficit
What is limiting expenditure within one budget?
It means to spend according to what you earn and not to spend beyond that.
What is revised estimate?
A revised estimate is the difference between the former budget estimates and the actual expenditure, which is usually presented in the next budget.
Difference between revised estimate and supplementary estimate?
A supplementary estimate refer to the additional or extra estimate. A revised estimate is the difference between the former budget estimates and the actual expenditure, which is usually presented in the next budget.
What is a budget variance?
A budget "variance" is the difference between planned and actual performance.
What is budget variance?
A budget "variance" is the difference between planned and actual performance.
What are the difference between cash budgeting and capital budgeting?
capital expenditure budget is a part of cash budget.cash budget involves managerial activities while capital expenditure budget involves day to day activities may be for long range or short range
What is the Difference between fiscal deficit and revenue surplus?
Budget for a fiscal year is a statement of revenue and expenditure of the government for the particular year. If the expenditure is more than the revenue for a particular year, then this difference is called the fiscal deficit. If the revenue is more than the expenditure for a particular year then this difference is called the excess revenue.
What variance is the difference between the actual sales and the flexible budget sales?
Actual sales (quantity ) = flexible budget sales (quantity ) , because the flexible budget is prepared based on the actual activity level (units sold ) to avoid misleading of compering the static budget sales and actual sales
What is the difference between tax planning and budget planning?
Tax Planning is the method of reducing tax liability through legally accepted devices whereas budget planning is managingincome and expenditure of a person or organization.
What is the difference between financial budget and a financial budget?
There is no difference between them.. Their difference only is how you understood about financial budget.. :)
What is the format for capital expenditure budget?
The format for capital expenditure budget is to list all the expenditure with their estimates. The cost of capital assets and expenditure must be provided.
Definition of budget deficit?
If the revenue is less than the expenditure, a budget is said to be in deficit. A budget is divided into 3: a. Surplus budget b. Deficit budget c. Balanced budget Surplus : REVENUE greater than EXPENDITURE Deficit : REVENUE less than EXPENDITURE Balanced : REVENUE equals EXPENDITURE
What is the difference between tax plane and budjet plan?
The tax planning is reducing the tax through legally devices where as the budget planning is managing the income and expenditure of an individually or organization.
